Savannah morning news. [volume] (Savannah) 1868-1887, 1887-02-06
NEUTRALITY-SUSPICIOUS. MAGNATE
One of the Ablest Men in Gotham's
Financial Circles.

new YORK, Feb. 5.-One of the new
railroad magnates that have arisen dur
ing the last few years is tall, we'll
built man of 45, nervous and positive in
manner, who would be q literary recluse
if he was not by the force Of events an
energetic, ambitious capitalist, laying the
foundations tor a vast fortune. 1t is AL
fred Sully. He is one of the abIest as he
is one of the most reticent men in the
financial circles of New York, and avoids
rather than seeks publicity. l believe
he is a distant relative OF Gen. Alfred
Sully lie was born at Buffalo, but after
receiving a good academic education
there ne set out to try his fortune in the
West. In Cincinnati he decided to study
law and was graduated from one of its law
schools. Thence he went TO Davenport,
Ia, where he commenced the practice
of law under the tirm name of Brown &
Sully. which was later on changed to
Brown, Campbell & Sully, and was known
as the leading law firm of the city, Here
he met Austin Corbin, now one of the
best known railroad tinanciers In the
country, but who was then a banker at
Davenport. MIR. Sully, after acquiring
considerable wealth from his law prao-
JlCe, came 10 new i OTh III loiZ. ne 0au
such a bent for literature that he now de-
termined to follow the literary calling,
but meeting MIR. Corbin that gentleman,
knowing his business ability, rendered
MIN the position of General Manager of
the Corbin Banking Company, which was
accepted.
His first connection with rail-
roads," said a friend seated in a we'll
known brokers' office In the Mills build
ing, twas in Obtaining control of the In
diana, Bloomington and Western road.
He afterward purchased the OHIO South
ern, of which he is still President. and all
Of the parties who originally joined him
IN this enterprise nearly doubled their
money. His next scheme was in the Central
Iowa road, and he made Il great deal OF
money in this as we'll as in other roads in
illinois. His next move was TO build the
Eastern railroad of Long Island. He
dis PLAYED great ability in this enterprise:
ne travelled all along the contemplated
route, making eloquent speeches-tOr be is
a good speaker-in behalf Of the road and
in soliciting a subsidy from the residents
who would be benefited by It's cOnstruc-
ton. His energy and determination in
pushing this project alarmed DfeXel.
Morgan 81 Co., and they offered to sell the
Long Island road, which would be in
jured by the proposed new road, to him
ana Austin Corbn jointly for a price ap-
proXimatIng $1,000 600. The contract of
purchase was Immediately sigaed by Sui
ly and Corbin, and they both, by good
financial management, reaped a large for
tune out OF this purchase"
He was sJill unknown, however, to the
general public. 1t was not till his com
Daratively recent coup in getting control
of the Reading railroad that be became
"
prove one Of the greatest financial
achievements Of his life. Both ne ana
Mr.. COrbin in their statements concern
ing that road, which, by the way, has an
income OF $3S. 100000 per annum, express
the belief that the net income by Judi
cIous economy can be so increased that
within two years the road can be made
to pay not only its fixed charges but
dividend.
"No sooner had Alfred Sully," said
broker who knows him, succeeded in
putting the Reading on sound basis for
reorganization than he looms up again as
the chief figure in reorganIzing the much
talked of Richm Ond Terminal, which has
resulted in acquiring Tor that company
the control OF the Richmond and Dan.
vile, the East Tennessee. Virginia and
Georgia and many other desirable South.
ern roads, whereby the Richmond Ter
minal mas acquired L0e cOnLfOl OF more
miles of road than is operated by either
the Pennsylvania or tine New York Cen
trail. 1t approXImates 1000 miles"
He Is President OF the Richmond Ter
minal and Ohio southern Companies, ard
a director in the Reading. lud ana.
Bloomington and Western, Long Island
and Central Iowa. sun IN the prime OF
iue, with doubtless many years Of inan-
cial success before him, this lawyer wltA
literary taises and exceptional CONNER
cial skill is now estimated 10 be worth
$40 600 600. He il not IN the strict sense
n spccu ator; unlike Jacob Little. Daniel
Drew, Henry n. Smith and some others
VINO trusted 10 the treacherOus nuctua-
lions Of the market Alfred Sully has LAID
the foundations Of his fortune 90 firm
grasp on actual property and ia controil-
ing promising railroads. He is one OF the
most successful lawyer-hnanCiers. among
whom are Franklln y. Gowen and Chaun-
cev N. DeDew. but ne ther of whom nave
any natural bent toward fnancc, thOutn
botn are unQuastlonabiy able men. Mr..
Sully thOrOu .hly understands finance and
railroad administration in all its
phases. / make this punic reference to
MIN because his own reticence concern
ing himself has made business men and
others curious TO know about him, and
has given rise TO "A general query:
"Who is Alfred Suly?"
OSCAR WILLoUGHBY RIGGS.